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Sichenzia Ross Ference LLP Joins Cyngn Inc. in Ringing Opening Bell at Nasdaq MarketSite

New York, NY – May 11, 2022 – Sichenzia Ross Ference LLP partners Gregory Sichenzia and Marcelle Balcombe joined Cyngn Inc. (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, for today’s opening bell ceremony at Nasdaq MarketSite in Times Square.

Mr. Sichenzia represented Cyngn Inc. in their recent public offering and Nasdaq listing along with partners Marcelle Balcombe and Jeff Cahlon. Click here to view the livestream.

Nasdaq Bell Ringing

Gregory Sichenzia of Sichenzia Ross Ference LLP Quoted in Law360’s “IPO Lawyers See Mild Pickup in an Otherwise Cool Spring”

Press Release – New York, NY – May 4, 2022 – Gregory Sichenzia, Founding Partner of Sichenzia Ross Ference LLP, was quoted in Law360’s article published on May 3, 2022, “IPO Lawyers See Mild Pickup In An Otherwise Cool Spring”, by Tom Zanki:

“Sichenzia Ross Ference partner Greg Sichenzia said valuations and other terms of new offerings have shifted in favor of investors, who can be more selective nowadays.

‘It’s not a seller’s market anymore,’ Sichenzia said. ‘It’s a buyer’s market.  The terms have changed from 12 months ago, or six months ago.’”

Press here to read the full article and more at Law360.  

Sichenzia Ross Ference LLP Represents Cyngn Inc. in $20 Million Private Placement Offering

cyngn logo

Press Release – New York, NY – May 2, 2022 – Sichenzia Ross Ference LLP today announced that it represented Cyngn Inc., a venture capital backed developer of innovative autonomous driving software solutions for industrial and commercial applications (NASDAQ: CYN), in a $20 million private placement.  Previous shareholders of CYN include Benchmark Capital, Andreessen Horowitz and Qualcomm Ventures.  The offering included 6,451,613 units and pre-funded units at a purchase price of $3.10 per unit, priced at-the-market under Nasdaq rules.  Each unit and pre-funded unit consisted of one share of common stock or common stock equivalent, and one non-tradable warrant.  The gross proceeds to the Company from the offering were approximately $20 million.

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Sichenzia Ross Ference LLP Represents Sunshine Biopharma, Inc. in $19.5 Million Private Placement Offering

sunshine biopharma

Press Release – New York, NY – May 1, 2022 – Sichenzia Ross Ference LLP today announced that it represented Sunshine Biopharma, Inc.,  a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs (NASDAQ: SBFM), in a $19.5 million private placement.  The offering included 4,862,845 units and pre-funded units at a purchase price of $4.01 per unit (or $4.009 per pre-funded unit), priced at-the-market under Nasdaq rules.  Each unit and pre-funded unit consisted of one share of common stock or common stock equivalent, and two non-tradable warrants.  The gross proceeds to the Company from the offering were approximately $19.5 million.

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Sichenzia Ross Ference LLP Represents AiAdvertising, Inc. in $10 Million Private Placement Offering

aiadvertising logo

Press Release – New York, NY – March 28, 2022 – Sichenzia Ross Ference LLP today announced that it represented AiAdvertising, Inc., an innovative technology company and leading provider of AI-enabled marketing solutions (OTCM: AIAD), in a $10.0 million purchase agreement with GHS Investments, LLC.  The offering consisted of up to $10.0 million in shares of common stock.  

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Sichenzia Ross Ference LLP Represents Sharps Technology, Inc. in $16 Million Initial Public Offering

Sharps Technology inc.

Press Release – New York, NY – April 19, 2022 – Sichenzia Ross Ference LLP announced today that it represented Sharps Technology, Inc. (Nasdaq: STSS and STSSW), an innovative medical device company offering patented, best-in-class, single use smart safety syringe products, in its initial public offering of 3,750,000 units at a public offering price of $4.25 per unit, each consisting of one share of common stock and two warrants to purchase one share of common stock.  The gross proceeds from the offering were approximately $16 million, before deducting underwriting discounts, commissions and offering expenses.  

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Sichenzia Ross Ference LLP Represents Boustead Securities LLC in $22.5 Million Underwritten Public Offering for Genius Group Limited.

geniusgroup logo

Press Release – New York, NY –April 15, 2022 – Sichenzia Ross Ference LLP congratulates Genius Group Limited (“Genius Group” or the “Company”) (NYSE: GNS), a world-leading entrepreneur Edtech and education group, on the final closing of its initial public offering on April 14, 2022. The Company raised $22,581,816 in gross proceeds, before deducting underwriting discounts, commissions and other offering expenses, by issuing 3,763,636 ordinary shares at a public offering price of $6.00 per share. The ordinary shares commenced trading on the NYSE American, effective April 12, 2022, under the symbol “GNS.”

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Sichenzia Ross Ference LLP Launches Fintech & Blockchain Practice

SRF Fintech ane Blockchain

Sichenzia Ross Ference LLP (SRF) is proud to announce the formation of the Fintech & Blockchain Practice Group. This new group will guide clients in matters relating to blockchain technologies and virtual currency.

As an award-winning securities law firm, SRF’s leading reputation in the field extends to a variety of financial and regulatory areas, and continues to grow—always meeting our client’s needs. The Fintech & Blockchain Group will harness our attorneys’ wide-array of expertise to keep our client’s ahead of the curve—guiding them in mitigating legal risk and maximizing economic opportunity as they explore these emerging technologies. 

The group will offer services related to Capital Markets, Regulation, & Compliance, including coin offerings, licensing, and investing in digital assets; Business Counsel, for NFTs, smart contracts, and outside general counsel services; and Litigation & Arbitration, representing clients in partnership disputes and regulator inquiries. 

The lawyers joining SRF in the Fintech & Blockchain Practice are members from the firm’s Corporate Law; Securities Law; and Business Litigation & Arbitration practice groups, including Marc J. Ross, Jennifer Trowbridge, and Emily M. Knight.

The SPAC Conference – June 15 & 16, 2022

Sichenzia Ross Ference - SPAC Conference

Sichenzia Ross Ference is a proud sponsor of The SPAC Conference 2022.  Join us June 15 and 16th at the West Chester Country Club in Rye, NY.

The SPAC Conference brings together the leading investors, sponsors, and bankers. In 2022, we are offering more networking opportunities and an expanded agenda designed to offer technical education for SPAC professionals. To learn more or to register, please click here.

 

 

Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $10 Million Underwritten Public Offering for Tantech Holdings Ltd. 

Tantech logo

Press Release – New York, NY – March 21, 2022 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an underwritten public offering of Tantech Holdings Ltd (NASDAQ: TANH). The offering included 20,000,000 shares of common stock and prefunded warrants to purchase common shares at a price to the public of $0.50 per share.  The gross proceeds of the offering to the company were approximately $10.0 million.

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Sichenzia Ross Ference LLP Represents Sunshine Biopharma, Inc. in $8 Million Private Placement

sunshine biopharma

Press Release – New York, NY – March 15, 2022 – Sichenzia Ross Ference LLP today announced that it represented Sunshine Biopharma, Inc.,  a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs (NASDAQ: SBFM), in a $8.0 million private placement.  The offering included 2,301,353 shares of common stock together with common warrants to purchase up to 2,301,353 shares of common stock, and 1,302,251 pre-funded warrants, together with common warrants to purchase up to 1,302,251 shares of common stock.  Each share of common stock and accompanying common warrant were sold together at a combined offering price of $2.22, and each pre-funded warrant and accompanying common warrant were sold together at a combined offering price of $2.219.  The common warrants have an exercise price of $2.22 per share.  The gross proceeds to the Company from the offering were approximately $8.0 million.

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Sichenzia Ross Ference LLP Represents Splash Beverage Group, Inc. in $9.2 Million Underwritten Public Offering  

Splash Beverage Acquisition

Press Release – New York, NY – February 18, 2022 – Sichenzia Ross Ference LLP today announced that it represented Splash Beverage Group, Inc. (NYSE American: SBEV), a portfolio company of leading beverage brands, in an underwritten public offering. The offering consisted of 2,300,000 shares of common stock at a price to the public of $4.00 per share.  The gross proceeds of the offering to the company were approximately $9.2 million.

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Sichenzia Ross Ference LLP Represents Sunshine Biopharma Inc. in $8 Million Underwritten Public Offering  

sunshine biopharma

Press Release – New York, NY – February 17, 2022 – Sichenzia Ross Ference LLP today announced that it represented Sunshine Biopharma, Inc. (NASDAQ: SBFM), a pharmaceutical company focused on the research, development, and commercialization of oncology and antiviral drugs, in an underwritten public offering. The offering consisted of 1,882,353 units at a price to the public of $4.25 per unit.  Each unit consists of one share of common stock and two warrants.  The gross proceeds of the offering to the company were approximately $8 million.

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Sichenzia Ross Ference LLP Acts as Principal Attorney Liaison for Blue Star Helium Limited on OTCQB Listing

Blue Star Limited Helium

Press Release – New York, NY – February 14, 2022 – Sichenzia Ross Ference LLP announced today that it sponsored Blue Star Helium Limited (OTCQB: “BSNLF”), an Australian helium exploration and development company, for the OTCQB. Sichenzia Ross is a qualified firm responsible for providing guidance on OTCQB requirements and recommending membership.  The Sichenzia Ross team was led by partner Darrin Ocasio.

Sichenzia Ross Ference LLP Represents Murphy Canyon Acquisitions Corp. in $132.25 Million Initial Public Offering and NASDAQ Listing

Murphy Canyon

Press Release – New York, NY – February 10, 2022 – Sichenzia Ross Ference LLP announced today that it represented Murphy Canyon Acquisition Corp. (Nasdaq: MURFU), a newly formed blank check company, with the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, in its NASDAQ listing and initial public offering of 13,225,000 units at a public offering price of $10.00 per unit, each consisting of one share of common stock and one redeemable warrant. The gross proceeds from the offering, including the over-allotment option shares, were $132,250,000 before deducting underwriting discounts, commissions and offering expenses.  

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Sichenzia Ross Ference LLP Represents Alset Capital Acquisitions Corp. in $86.25 Million Initial Public Offering and NASDAQ Listing

Alset Ehome International

Press Release – New York, NY – February 7, 2022 – Sichenzia Ross Ference LLP announced today that it represented Alset Capital Acquisition Corp. (Nasdaq: ACAXU), a newly formed blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, in its NASDAQ listing and initial public offering of 7,500,000 units at a public offering price of $10.00 per share, each unit including one Class A common stock, one half of one redeemable warrant, and one right to receive one tenth (1/10) of one share of Class A common stock upon consummation of an initial business combination.  The gross proceeds from the offering, including the over-allotment option shares, were $86,250,000 before deducting underwriting discounts, commissions and offering expenses.  

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Sichenzia Ross Ference LLP Represents ETAO International Group in $2.5 Billion Definitive Merger Agreement with Mountain Crest Acquisition Corp. III

ETAO International Group

Press Release – New York, NY – February 1, 2022– Sichenzia Ross Ference LLP announced today that it is representing ETAO International Group in a definitive merger agreement with Mountain Crest Acquisition Corp. III (Nasdaq: MCAER), a publicly traded special purpose acquisition company (“SPAC”).  The transaction values ETAO at a pro forma fully diluted enterprise value of approximately $2.5 billion with existing ETAO shareholders rolling over 100% of their equity into equity of the combined company.  Upon completion of the transaction, which is anticipated in the summer of 2022, the combined company will operate as ETAO and securities are expected to be listed on NYSE under the symbol “ETAO”. The transaction includes a $250 million private investment in public equity at $10.00 per share in connection with the business combination transaction. Separately, ETAO has also received commitments through a separate private placement of $51 million.  

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Sichenzia Ross Ference LLP Represents Alliance Global Partners as Financial Advisor in a $5.9 Million Warrant Exercise for ShiftPixy, Inc.

shiftpixy logo

Press Release – New York, NY – January 31, 2022 – Sichenzia Ross Ference LLP today announced that it represented Alliance Global Partners (AGP), as the financial advisor for the warrant exercise for ShiftPixy, Inc. (NASDAQ: PIXY).  The Warrant Exercise Agreement consisted of 4,948,453 warrants exercised to common stock at a price per share of $1.20 for the holder, and the issuance of a new warrant to purchase up to 9,896,906 shares with an exercise price per share of $1.55.  The gross proceeds from the cash exercise were approximately $5.9 million.

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Sichenzia Ross Ference LLP Represents Boustead Securities, LLC as Underwriter to MAINZ BIOMED N.V. in $25.875 Million U.S. Follow-On Public Offering

mainz biomed

Press Release – New York, NY – January 28, 2022 – Sichenzia Ross Ference LLP congratulates MAINZ BIOMED N.V. (the “Company”) (NASDAQ: MYNZ ), a molecular genetics diagnostic company specializing in the early detection of cancer, on the final closing of its follow-on public offering on  January 28, 2022.

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Sichenzia Ross Ference LLP Announces Over 80 Capital Markets Transactions Valued Over $2 Billion at the Closing of 2021

securities law firm

Press Release – New York, NY – January 17, 2022 — Sichenzia Ross Ference LLP today announced that in 2021 it closed more than 80 capital markets transactions, ranging from less than $4 million to $200 million. These transactions on behalf of both issuers and underwriters included initial public offerings, secondary public offerings, registered direct offerings and private placements. The total value of these transactions exceeded $2 billion.

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Sichenzia Ross Ference LLP Adds Two Key Additions to its Corporate and Securities Law Team

Two new corporate and securities lawyers

Press Release – New York, NY – January 12, 2022 – Sichenzia Ross Ference LLP, a leading full service law firm, announced today Jennifer Trowbridge and Raquel Vazquez have joined the firm’s corporate and securities practice.

Jennifer Trowbridge joins SRF as Counsel, practicing corporate securities, corporate finance, and corporate transactions as well as general corporate governance for both private and publicly traded companies. She assists clients with private and public offerings (Regulation D, Reg A+, etc.), registration of securities (Forms S-1, S-8, etc.), mergers, acquisitions, stock and asset purchases and periodic filing compliance (Forms 10-K, 10-Q, 8-K, etc.) and more.

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $9.8 Million Underwritten Offering of BiondVax Pharmaceuticals Ltd.

biondvax pharmaceuticals

Press Release – New York, NY – December 30, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an underwritten public offering of BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV). The offering included 4,144,068 American Depositary Shares (“ADSs”) sold to the public at $2.36 per ADS.  The gross proceeds of the offering to the company were approximately $9.8 million.

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $25 Million Initial Public Offering for Cingulate, Inc.

Cingulate

Press Release – New York, NY – December 13, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an initial public offering of Cingulate Inc. (NASDAQ: CING). The offering included 4,166,666 shares of common stock, at a price to the public of $6.00 per Share.   The gross proceeds of the offering to the company were approximately $25 million.

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $77 Million Public Offering for Nisun International

Nisun International Enterprise Development Group

Press Release – New York, NY – December 16, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an underwritten public offering of Nisun International Enterprise Development Group Co., Ltd (Nasdaq: NISN). The offering included 19,250,000 Class A common shares and pre-funded warrants to purchase Class A common shares at a price to the public of $4.00 per Share.   The gross proceeds of the offering to the company were approximately $77 million.

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Sichenzia Ross Ference LLP Represents Relmada Therapeutics, Inc. in $172.5 Million Upsized Public Offering Underwritten by Goldman Sachs and Jefferies

relmada therapeutics logo

Press Release – New York, NY – December 14, 2021 – Sichenzia Ross Ference LLP today announced that it represented Relmada Therapeutics, Inc. (NASDAQ: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system, in an upsized underwritten public offering. The offering, including the full exercise of the overallotment, consisted of 10,147,059 shares of common stock at a price to the public of $17.00 per share.  The gross proceeds of the offering to the company were approximately $172.5 million.

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MJDS Allows Canadian Issuers Easy Access to the U.S. Capital Markets 

Overview

The Multijurisdictional Disclosure System (“MJDS”) adopted by the Securities and Exchange Commission (the “SEC”) and the Canadian Securities Administrators provides Canadian issuers a streamlined opportunity to more easily gain access to U.S.  Capital Markets for both financing needs and other strategic reasons, including the opportunity for Canadian issuers to be listed on a U.S. securities exchanges such as the Nasdaq Stock Market (“NASDAQ”) or New York Stock Exchange (“NYSE”). 

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $13.7 Million Underwritten Public Offering for Tantech Holdings Ltd. 

Tantech Holdings Ltd.

Press Release – New York, NY – December 9, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an underwritten public offering of Tantech Holdings Ltd (NASDAQ: TANH). The offering included 21,120,509 shares of common stock, at a price to the public of $0.65 per Share.   The gross proceeds of the offering to the company were approximately $13.7 million.

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Sichenzia Ross Ference LLP Represents Alset EHome International Inc. in $30.0 Million Underwritten Public Offering  

Alset Ehome International

Press Release – New York, NY – December 9, 2021 – Sichenzia Ross Ference LLP today announced that it represented Alset EHome International Inc. (NASDAQ: AEI), a diversified holdings company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities sand consumer products, in an underwritten public offering. The offering consisted of shares of common stock and pre-funded warrants at a price to the public of $0.60 per share and $0.599 per pre-funded warrant.  The gross proceeds of the offering to the company were approximately $30 million.

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Sichenzia Ross Ference LLP Represents mCloud Technologies Corp., a Canadian Public Company,  in $9.5 Million Underwritten Public Offering Made under the MJDS in the US and Uplisting to Nasdaq 

mcoud logo

Press Release – New York, NY – November 30, 2021 – Sichenzia Ross Ference LLP announced today that it represented mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV:  MCLD), a leading provider of AI-powered asset management and Environmental, Social, and Governance solutions, in an underwritten public offering of 2,100,000 units.  Each unit was priced at a public offering price of $4.50 per unit, each consisting of one common share and one warrant to purchase one common share at an exercise price of $4.75. Additionally, the Company granted the underwriters a 45-day option to purchase up to an additional 315,000 common shares and/or an additional 315,000 warrants  to cover over-allotments. The common shares began trading on the The Nasdaq Capital Market on November 24, 2021, under the symbol “MCLD”.  The gross proceeds were approximately $9.5 million. 

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Sichenzia Ross Ference LLP Represents A.G.P./Alliance Global Partners as Sole Placement Agent in $24M Registered Direct Offering of Alpine 4 Holdings, Inc. 

alpine 4 logo

Press Release – New York, NY – November 29, 2021– Sichenzia Ross Ference LLP announced today that it represented A.G.P./Alliance Global Partners as sole placement agent in a registered direct offering (the “Offering”) of Alpine 4 Holdings, Inc. (Nasdaq: ALPP), a leading operator and owner of small market businesses. The Offering consisted of 8,571,430 shares of the Company’s common stock and warrants to purchase 4,284,715 shares of the Company’s common stock at a combined purchase price of $2.80 per one Share and accompanying one-half Warrant pursuant to a registered direct offering.  The Warrants will have an exercise price of $3.10 per share, will be exercisable immediately, and will expire five years following the issuance date. 

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Sichenzia Ross Ference LLP Represents Good Gaming, Inc. in $3.1 Million Private Placement Offering

good gaming inc. logo

Press Release – New York, NY – November 18, 2021 – Sichenzia Ross Ference LLP today announced that it represented Good Gaming, Inc.,  a gaming brand offering collaborative spaces for gamers and the developer of MicroBuddies (OTCQB: GMER), in a $3.1 million private placement.  The offering included 20,733,337 shares of its common stock (and common stock equivalents) and warrants to purchase 20,733,337 shares of common stock with a combined purchase price for one share of common stock and a warrant to purchase one share of common stock of $0.15.  The warrants have an exercise price of $0.20 per share.  The gross proceeds to the Company from the offering are estimated to be approximately $3.1 million.

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The Growing Risk of Website Accessibility Litigation and How to Protect Your Business Against It

Sichenzia Ross Ference LLP is aware of a growing trend in the law – the pursuit of Web Accessibility Litigation.  This type of litigation involves lawsuits alleging that a business’ website denies access to consumers with disability (such as blindness or deafness), in violation of the American with Disabilities Act (“ADA”) or similar local statutes.

In 2018, the number of federally-filed lawsuits of this nature skyrocketed to 2,285, up from 815 in the year prior, and in 2019, Web Accessibility lawsuits increased 51.% over the prior year’s comparable six-month period.

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Sichenzia Ross Ference LLP Represents Boustead Securities, LLC as Underwriter to MAINZ BIOMED B.V. in $11.5 Million U.S. Initial Public Offering

mainz biomed

Press Release – New York, NY – November 11, 2021 – Sichenzia Ross Ference LLP congratulates MAINZ BIOMED B.V. (the “Company”) (NASDAQ: MYNZ ), a molecular genetics diagnostic company specializing in the early detection of cancer, on the final closing of its initial public offering on November 9, 2021. The Company raised $11.5 million in gross proceeds, before deducting underwriting discounts, commissions and other offering expenses, by issuing 2,300,000 common shares at a public offering price of $5.00 per share. The ordinary shares commenced trading on the Nasdaq Capital Market on November 5, 2021 under the ticker symbol “MYNZ”.

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Partner Andrew M.J. Bernstein to Present White-Collar Criminal Defense CLE for New York State Bar Association

Press Release – November 10, 2021 – Andrew M. J. Bernstein, partner and leader of Sichenzia Ross Ference LLP’s White-Collar Defense and Investigations practice, will present for the New York State Bar Association (NYSBA) “White-Collar Criminal Defense Litigation Update 2021” a virtual CLE on Friday November 12, 2021 at 12:00 PM. 

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Sichenzia Ross Ference LLP Represents The Glimpse Group, Inc. in $15 Million Private Placement Financing

The glimpse group

Press Release – New York, NY – November 3, 2021 – Sichenzia Ross Ference LLP today announced that it represented The Glimpse Group, Inc., a Virtual (“VR”) and Augmented Reality (“AR”) platform company offering enterprise-focused software, services and solutions (NASDAQ: VRAR), in a $15 million private placement.  The gross proceeds to the Company from the offering are estimated to be approximately $13.7 million after expenses.

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Sichenzia Ross Ference LLP Represents VC-backed Cyngn, Inc. in $26.3 Million Initial Public Offering 

cyngn logo

Press Release – New York, NY – October 25, 2021 – Sichenzia Ross Ference LLP announced today that it represented Cyngn, Inc., (NASDAQ: CYN) a venture capital backed developer of innovative autonomous driving software solutions for industrial and commercial enterprises, in its initial public offering.  The offering consisted of 3,500,000 shares of its common stock at a public offering price of $7.50 per share, for gross proceeds of $26,300,000.  Previous shareholders of CYN include Benchmark Capital, Andreessen Horowitz and Qualcomm Ventures.

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Sichenzia Ross Ference LLP Represents Parsec Capital Acquisition Corp. in $86.3 Million Initial Public Offering

parsec capital acquisitions corp. logo

Press Release – New York, NY –  October 11, 2021 – Sichenzia Ross Ference LLP announced today that it represented Parsec Capital Acquisition Corp. (NASDAQ: PCXCU) in its initial public offering.  PCXCU is a Special Purpose Acquisition Company pursuing companies that lead in emerging and transformational technologies for the aerospace and defense sector.  The Parsec Management team is led by Patricia Trompeter, former Chief Financial Officer at GE Capital with an All-Star board including:

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Sichenzia Ross Ference LLP Joins Biotricity in Ringing Opening Bell at Nasdaq MarketSite

New York, NY – October 7, 2021 – Sichenzia Ross Ference LLP partners Gregory Sichenzia and David Manno joined Biotricity (NASDAQ: BTCY), a medical diagnostic and consumer healthcare technology company, for today’s opening bell ceremony at Nasdaq MarketSite in Times Square. 

Mr. Sichenzia and Mr. Manno represented Biotricity in their recent public offering and Nasdaq listing along with partner Marcelle Balcombe, and associates Rajiv Radia and Ryan Houseal.

Sichenzia Ross Ference LLP Represents American Battery Technology Company in $39.1 Million Financing

Press Release – New York, NY – October 4, 2021 – Sichenzia Ross Ference LLP today announced that it represented American Battery Technology Corporation (OTCQB: ABML), an American-owned critical minerals company currently building the first non-thermal integrated lithium-ion battery recycling plant in the United States, in a $39.1 million financing.  The offering consisted of $39.1 million in securities with an aggregate of 25,389,611 shares of common stock and warrants at a purchase price of $1.54 per share in a registered direct offering.

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Sichenzia Ross Ference LLP Represents Borqs Technologies, Inc. in $27 Million Private Placement

Borqs Technologies

Press Release – New York, NY – September 23, 2021 – Sichenzia Ross Ference LLP today announced that it represented Borqs Technologies, Inc.  (Nasdaq: BRQS) in a $27 million private placement.  The offering consisted of convertible notes and warrants.  One-half of the notes were issued at the execution of definitive agreements and the other one-half of the notes will be issued upon the satisfaction of certain conditions, including effectiveness of a resale registration statement to be filed by the Company.  

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp in $15 Million Registered Direct Offering of Molecular Data Inc.

Molecular Data Inc. Logo

Press Release – New York, NY – September 22, 2021 – Sichenzia Ross Ference LLP announced today that it represented Aegis Capital Corp. as exclusive placement agent in a $15 million registered direct offering of Molecular Data Inc. (NASDAQ: “MKD”) a leading technology-driven platform in China’s chemical industry. The registered direct offering consisted of the purchase and sale of common units, consisting of one American Depositary Share, each representing three of its Class A ordinary shares, and one warrant to purchase one ADS, and pre-funded units consisting of one pre-funded warrant to purchase one ADS and one warrant to purchase one ADS.  The gross proceeds of the offering were approximately $15 million.  

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Sichenzia Ross Ference LLP Represents EzFill in $28.75 Million Initial Public Offering and NASDAQ Listing

EzFill Logo

Press Release – New York, NY – September 20, 2021 – Sichenzia Ross Ference LLP announced today that it represented EZFill Holdings, Inc., an emerging leader in the fast-growing on-demand mobile fuel industry, in its NASDAQ listing and initial public offering of 7,187,500 shares of common stock at a public offering price of $4.00 per share, including 937,500 shares sold upon full exercise of the underwriter’s option to purchase additional shares.  The gross proceeds from the offering, including the over-allotment option shares, were $28,750,000 before deducting underwriting discounts, commissions and offering expenses.  

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp. in $81 Million Underwritten Public Offering for Farmmi, Inc. 

Farmmi

Press Release – New York, NY – September 15, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp. as sole book runner in an underwritten public offering for Farmmi, Inc. (NASDAQ: FAMI). The offering included 388,261,717 ordinary shares and pre-funded warrants to purchase ordinary shares.  The gross proceeds of the offering to the company were approximately $81 million.

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Sichenzia Ross Ference LLP Secures Deferred Prosecution Agreement for Client Under Federal Indictment in the Southern District of New York

Press Release – New York, New York – September 13, 2021 – Sichenzia Ross Ference LLP (“SRF”) announced today that last month its client, a member of the health care sector, entered into a Deferred Prosecution Agreement (“DPA”) with the United States Attorney’s Office for the Southern District of New York, which should result in a full dismissal of all currently pending criminal charges.

The client was charged in a sweeping multi-defendant, multi-count indictment which included allegations of soliciting bribes by an agent of a federally funded organization and conspiracy to commit bribery. SRF Partner and leader of its White-Collar Criminal Defense and Investigations Practice, Andrew M. J. Bernstein successfully persuaded federal prosecutors to allow the client to enter into a DPA that is expected to result in a full dismissal of all charges sometime in quarter one of 2022. 

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Document Security Systems, Inc. Completes a $40 Million Investment in American Pacific Bancorp

document security systems logo

Press Release – New York, NY – September 9, 2021 – Document Security Systems, Inc. (NYSE American: DSS), a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, finalized an investment in American Pacific Bancorp, Inc. (“APB”), through a $40 million subscription agreement.  Pursuant to the subscription agreement, APB will issue 6,666,7000 shares of its common stock to DSS.  APB is a bank holding company, focused on the lending business and acquiring equity positions of commercial banks in the United States. 

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Sichenzia Ross Ference Partner Andrew M.J. Bernstein’s CLE on Grand Jury Practice Chosen for NYSBA Video Replay Series

During the month of September, the New York State Bar Association (“NYSBA”) will be doing a series of video replays of its most popular virtual CLEs. Partner and leader of Sichenzia Ross Ference LLP’s White-Collar Defense and Investigations practice, Andrew M. J. Bernstein’s successful and highly rated presentation titled “Grand Jury Practice for Criminal Defense Attorneys in New York State” will be featured online again on Tuesday September 14, 2021 at 12:00 PM.

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Sichenzia Ross Ference LLP Represents A.G.P./ Alliance Global Partners as Placement Agent in $12 Million Private Placement of ShiftPixy, Inc.

shiftpixy logo

Press Release – New York, NY – September 9, 2021 – Sichenzia Ross Ference LLP announced today that it represented A.G.P./Alliance Global Partners as sole placement agent in a private placement of ShiftPixy, Inc., with a large institutional investor.  The offering consisted of (i) 2,850,000 shares of its common stock together with warrants to purchase up to 2,320,000 shares of common stock, and (ii) 4,670,000 pre-funded warrants with each pre-funded warrant exercisable for one share of common stock, together with common warrants to purchase up to 4,670,000 shares of common stock. Each share of common stock and accompanying common warrant were sold together at a combined offering price of $1.595, and each pre-funded warrant and accompanying common warrant were sold together at a combined offering price of $1.5949. The gross proceeds of the offering were approximately $12 million.

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Document Security Systems, Inc. Receives a $15 Million Investment from Alset EHome International, Inc. 

document security systems logo

Press Release – New York, NY – September 8, 2021 – Document Security Systems, Inc. (NYSE American: DSS), a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, finalized a $15 million investment from Alset EHome International, Inc. (Nasdaq: AEI). DSS will issue 12,155,591 shares of common stock for an aggregate amount of approximately $15 million. AEI is a diversified holding company engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products.  

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Sichenzia Ross Ference LLP Congratulates OMNIQ Corp., on NASDAQ Up-listing

New York, NY – September 2, 2021 –   Sichenzia Ross Ference LLP congratulates our longtime client OMNIQ Corp. (NASDAQ: OMQS), on the Company’s up-listing to the NASDAQ Capital Market.  OMNIQ is a provider of object identification, automation and Artificial Intelligence (AI)-based solutions, to the Supply Chain Automation, Traffic Management, Public Safety, Public Health, retail and Safe City markets. The Sichenzia Ross Ference LLP team was led by Arthur Marcus and awaiting admission, Zach Weiss.  The up-listing is effective for trading on Thursday, September 2, 2021, and OMQS’ common stock will trade under the stock symbol, “OMQS.”

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Sichenzia Ross Ference LLP Represents H.C. Wainwright in $2 Million Registered Direct Offering of HealthLynked

HealthLynked logo

Press Release – New York, NY – September 1, 2021 – Sichenzia Ross Ference LLP announced today that it represented H.C. Wainwright & Co., LLC as exclusive placement agent in a $2 million registered direct offering of common stock of HealthLynked, Corp. (NASDAQ: “HLYK”), a global healthcare network focused on care management of its members and a provider of healthcare technologies that connects doctors, patients, and medical data. The registered direct offering consisted of the sale of 3,703,704 shares of common stock at a purchase price of $0.54 per share. In a concurrent private placement, HealthLynked issued to the investor in the offering unregistered warrants to purchase up to an aggregate of 1,851,852 shares of common stock at an exercise price of $0.65 per share.

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Sichenzia Ross Ference LLP Represents Biotricity in $15.15 Million Underwritten Public Offering and NASDAQ Uplisting

biotricity logo

Press Release – New York, NY – August 31, 2021 – Sichenzia Ross Ference LLP today announced that it represented Biotricity, Inc. (NASDAQ: BTCY), a medical diagnostic and consumer healthcare technology company, in an underwritten public offering. The offering consisted of 5,000,000 shares (the “Shares”) of common stock, par value $0.001 per share (the “Common Stock”), at a price to the public of $3.00 per Share. The gross proceeds of the offering to the company were approximately $15.15 million including a partial exercise of the overallotment option.

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Gregory Sichenzia Recognized in Best Lawyers in America® 28th Edition in the Practice Area of Corporate Law

NEW YORK, Aug. 30, 2021 – Sichenzia Ross Ference LLP is proud to announce that Founding Partner, Gregory Sichenzia, has been included in the 2022 edition of The Best Lawyers in America® for a 7th consecutive year.  Mr. Sichenzia is recognized for his high caliber work in the practice area of Corporate Law.  His annual inclusion in The Best Lawyers in America® since 2016 is a testament to his rigorous commitment to servicing the needs of public and private companies, their financiers and the broker-dealer and financial services community in New York and around the world.

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Sichenzia Ross Ference LLP Represents Aegis Capital Corp in $5.33 Million Private Placement Offering of Basanite, Inc.

basanite industries logo

Press Release – New York, NY – August 19, 2021 – Sichenzia Ross Ference LLP today announced that it represented Aegis Capital Corp as exclusive placement agent in a $5.33 million private placement offering of Basanite, Inc. (OTCQB: BASA), a manufacturer and market developer of environmentally friendly, high-performance composite products made from Basalt fiber for use in construction.  In connection with the offering, the company issued 19,398,144 units consisting of 1 common share and 2 Warrants, each to purchase 1 common share for a total of 38,796,288 shares underlying the Warrants.  No actual units were issued in the offering.  The gross proceeds from the private placement offering were approximately $5.33 million.

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Sichenzia Ross Ference LLP Represents H.C. Wainwright in $20.0 Million Registered Direct Offering of Ecoark Holdings

eco ark

Press Release – New York, NY – August, 10 2021 – Sichenzia Ross Ference LLP announced today that it represented H.C. Wainwright & Co., LLC as exclusive placement agent in a $20.0 million registered direct offering of common stock and warrants of Ecoark Holdings, Inc. (NASDAQ: “ZEST”), a diversified holding company. The registered direct offering consisted of the sale of an aggregate of 3,478,261 shares of common stock and warrants to purchase up to an aggregate of 3,478,261 shares of common stock at a purchase price of $5.75 per share of common stock and related warrant.

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Sichenzia Ross Ference LLP Represents Alset EHome International Inc. in $32 Million Underwritten Public Offering

Alset Ehome International

Press Release – New York, NY – August 2, 2021 – Sichenzia Ross Ference LLP today announced that it represented Alset EHome International Inc. (NASDAQ: AEI), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, in an underwritten public offering. The offering consisted of 5,324,139 shares (the “Shares”) of common stock, par value $0.001 per share (the “Common Stock”), at a price to the public of $2.21 per Share, and pre-funded warrants to purchase 9,770,200 shares of the Common Stock at a price of $2.11 per pre-funded warrant.  The gross proceeds of the offering to the company were approximately $32 million.

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Sichenzia Ross Ference LLP Represents H.C. Wainwright & Co. in $2.0 Million Private Placement of International Land Alliance, Inc.

international land alliance logo

Press Release – New York, NY – July 30, 2021 – Sichenzia Ross Ference LLP today announced that it represented H.C. Wainwright & Co., LLC as exclusive placement agent in a $2,000,000 private placement offering of International Land Alliance, Inc. (OTCQB: ILAL), an international land investment and development firm.  The offering consisted of warrants to purchase up to 3,000,000 shares of common stock with an exercise price of $0.68 per share, immediately exercisable and will expire five and one half years from the issuance date.  The gross proceeds from the private placement offering were approximately $2,000,000.

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Sichenzia Ross Ference LLP Represents Jupiter Wellness, Inc. in $32.5 Million Underwritten Public Offering of Common Stock and Warrants

jupiter wellness

Press Release – New York, NY – July 27, 2021 – Sichenzia Ross Ference LLP today announced that it represented Jupiter Wellness, Inc. (NASDAQ: JUPW), a leading developer of CBD based skin care therapeutics and treatments, in an underwritten public offering. The offering consisted of 11,066,258 shares (the “Company Offering Shares”) of common stock, (“Common Stock”) to be issued by the Company, 540,884 shares (the “Selling Stockholder Shares”) of Common Stock to be issued by certain selling stockholders (the “Selling Stockholders”) of the Company and warrants (the “Company Warrants”) to purchase up to 11,607,142 shares of Common Stock, at a price to the public of $2.79 per Company Offering Share/Selling Stockholder Share and $0.01 per Company Warrant. The Company Warrants will be exercisable immediately upon issuance with the exercise price of $2.79 per share and will expire on the fifth anniversary of the original issuance date. The gross proceeds of the offering to the Company were approximately $31.0 million and $1.5 million to the Selling Stockholders.  

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Sichenzia Ross Ference LLP Represents ThinkEquity LLC in $18.0 Million Initial Public Offering of Common Stock of Twin Vee PowerCats Co.

twin vee powercats

Press Release – New York, NY – July 26, 2021 – Sichenzia Ross Ference LLP announced today that it represented ThinkEquity, a division of Fordham Financial Management, as sole underwriter in the initial public offering of the common stock of Twin Vee PowerCats Co. (NASDAQ: VEEE), a designer, manufacturer and marketer of recreational and commercial power catamaran boats. The offering consisted of 3,000,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of $18,000,000.

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Sichenzia Ross Ference LLP Represents Aegis Capital in $16.0 Million Initial Public Offering of Inspira Technologies OXY B.H.N. Ltd

Inspira logo

Press Release – New York, NY – July 19, 2021 – Sichenzia Ross Ference LLP announced today that it represented Aegis Capital Corp. as sole book runner in the initial public offering of 2,909,091 units of Inspira Technologies OXY B.H.N. Ltd (the Company), an Israeli specialty medical device company engaged in the research, development, manufacture, and marketing of proprietary respiratory support technology. The offering was priced at $5.51 per unit, each consisting of one ordinary share and one warrant to purchase one ordinary share, with an initial exercise price of $5.50 per share. The ordinary shares and warrants are trading on NASDAQ under the symbols “IINN” and “IINNW”, respectively.

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Partner Andrew M.J. Bernstein To Present Upcoming CLE “White-Collar Criminal Defense Litigation Update” for Lawline

In 2021, there has been a change in the White House, the make-up of Congress, and in leadership roles at the DOJ, SEC, and other criminal and regulatory enforcement bodies. Coupled with a new Supreme Court composition and the fallout from pandemic era-related frauds, the white-collar defense landscape is ever changing.

In another collaboration with Lawline’s virtual CLEs, Andrew M. J. Bernstein, Partner and leader of Sichenzia Ross Ference LLP’s White-Collar Defense and Investigations practice, will be presenting “White-Collar Criminal Defense Litigation Update” on Thursday July 22, 2021 at 12:30 PM (EST). 

The course will offer a recap on the important developments for the first and second quarters of 2021 and offer insights on how to defend clients against common pandemic era allegations and advise clients on how to avoid the extra scrutiny brought on by pandemic-related enforcement. 

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Sichenzia Ross Ference LLP Represents Inmune Bio, Inc. in a $40.0 Million Registered Direct Offering

inmunebio logo

Press Release – New York, New York – July 16, 2021 – Sichenzia Ross Ference LLP announced today that it represented Inmune Bio, Inc. (Nasdaq: INMB), a clinical-stage immunology company focused on developing treatments that harness the patient’s innate immune system to fight disease, in a registered direct offering of common stock at a purchase price of $22.00 per share with two institutional investor. The gross proceeds from the offering were $40.0 million.

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Sichenzia Ross Ference LLP Represents OMNIQ Corp. in $14.99 Million Private Placement 

omniq logo

Press Release – New York, New York – July 15, 2021 – Sichenzia Ross Ference LLP announced today that it represented OMNIQ Corp.  (OTCQB: OMQS), a provider of Supply Chain and Artificial Intelligence (AI)-based Machine Vision solutions, in a private placement offering with institutional and accredited investors. The offering consisted of 2,142,857 shares of common stock at a price of $7.00 per share. The gross proceeds were approximately $15.0 million.

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Sichenzia Ross Ference LLP Represents The Glimpse Group in $14.1 Million Initial Public Offering of Common Stock and Full Exercise of Underwriter’s Over-Allotment Option

The glimpse group

Press Release – New York, NY – July 12, 2021 – Sichenzia Ross Ference LLP today announced that it represented The Glimpse Group (NASDAQ: VRAR) (Company), a diversified Virtual Reality and Augmented Reality (“VR” and “AR”) platform company providing enterprise-focused VR and AR software & services solutions, in an initial public offering of 2,012,500 shares of common stock, which included the full exercise of the underwriter’s over-allotment option. The offering was priced at $7.00 per share. The gross proceeds were approximately $14.1 million.

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Sichenzia Ross Ference LLP Congratulates and Joins KULR Technology Group Inc. During NYSE Closing Bell Ringing Ceremony

kulr logo

New York, NY – July 7, 2021 Sichenzia Ross Ference LLP today congratulated KULR (NYSE American: KULR) on its milestone of ringing the Closing Bell at the New York Stock Exchange. KULR will be joined by SRF Partner Jay Yamamoto during its bell ringing ceremony on the afternoon of July 9, 2021, viewable live on CNBC and the NYSE Bell Website. 

In May, Sichenzia Ross Ference represented KULR Technology in a $6.5 million registered direct offering. Click here to learn more.

Sichenzia Ross Ference LLP Represents Document Security Systems, Inc. in $50 Million Public Offering of Common Stock Including Exercise of the Over-Allotment 

document security systems logo

Press Release – New York, NY – June 17, 2021 – Sichenzia Ross Ference LLP today announced that it represented Document Security Systems, Inc. (NYSE American: DSS) (Company), a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, in a public offering of 29,000,000 shares of the Company’s common stock and 4,350,000 additional shares from the exercise of the underwriter’s option at the public offering price of $1.50 per share. The gross proceeds were approximately $50.025 million. 

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Sichenzia Ross Ference LLP Represents Splash Beverage Group, Inc. in $15.0 Million Public Offering and Uplisting to NYSE American

Splash Beverage Acquisition

Press Release – New York, NY – June 16, 2021 – Sichenzia Ross Ference LLP today announced that it represented Splash Beverage Group, Inc. (NYSE American: SBEV), a portfolio company of leading beverage brands, in a public offering of 3,750,000 shares of common stock and warrants to purchase up to 3,750,000 shares of common stock.  The offering was priced at a public offering price of $4.00 per share and accompanying warrant. Each warrant is exercisable at a price of $4.60 per share and will expire five years from issuance. Additionally, the Company granted the underwriters a 45-day option to purchase up to an additional 562,500 shares of common stock and warrants to purchase up to 562,500 shares of common stock. The common stock and warrants began trading on the NYSE American on June 11, 2021, under the symbols “SBEV” and “SBEV WS,” respectively. The gross proceeds were approximately $15.0 million. 

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Sichenzia Ross Ference Welcomes Back Marcelle Balcombe as Partner

Press Release – New York, NY – June 1, 2021 – Sichenzia Ross Ference LLP, a leading securities and corporate law firm, announced today that a member of our firm for 15 years and an integral part of our securities practice group has returned to the firmwhere she will continue to provide high quality legal services to her clients.

Please reach out to her at mbalcombe@srf.law to welcome her back. continue reading >>

Sichenzia Ross Ference LLP Adds Former SEC Staff Attorney Ryan Houseal as Corporate & Securities Associate

Press Release – New York, NY – June 11, 2021 – Sichenzia Ross Ference LLP, a leading securities and corporate law firm, announced today that Ryan Houseal will join the firm as an Associate in the firm’s Corporate and Securities practice. 

Mr. Houseal started his legal career as an associate at Jones Day in New York City before becoming an Attorney-Advisor/Staff Attorney with the U.S. SEC, Division of Corporate Finance in Washington, D.C for six years. Mr. Houseal is an experienced, ambitious, well-rounded attorney with tremendous experience in both periodic reporting and public and private offerings of publicly traded companies. In addition, Mr. Houseal has significant experience executing corporate transactions by working with teams on acquisitions, mergers, divestitures, equity investments, joint ventures and more. 

Mr. Houseal holds a B.A. in Political Science and Legal Studies from City College of New York of The City University of New York, and a law degree from the University of Michigan. continue reading >>

Sichenzia Ross Ference LLP Represents Red Light Holland Corp. in the $3.2 million Acquisition of Radix Motion Inc. 

Red Light Holland

Press Release – New York, NY – June 9, 2021 – Sichenzia Ross Ference LLP announced today that it has represented Red Light Holland Corp. (“Red Light” CSE:TRUFF) and its wholly owned subsidiary, Red Light Acquisition Inc. (“Red Light US“), in its acquisition of Radix Motion Inc. (Radix Motion), a technology and innovation company focused on empowering the psychedelic ecosystem with embodied technology, including augmented reality, virtual reality, and interactive holograms. 

The acquisition was completed pursuant to the terms of the definitive agreement dated June 7, 2021, pursuant to which Red Light US acquired all of the issued and outstanding shares of Radix Motion for approximately US$3.2 Million. The consideration was comprised of: (i) 12,701,741 common shares of Red Light (the “Red Light Shares“), having an aggregate value of US$3,195,406 with each Red Light Share priced at the 10-day volume weighted average price of the Red Light Shares on the Canadian Securities Exchange immediately prior to the closing of the Acquisition; and (ii) US$67,413.05 in cash.  continue reading >>

Sichenzia Ross Ference LLP Represents BriaCell Therapeutics Corp. in $27.2 Million Private Placement 

briacell therapeutics

Press Release – New York, New York – June 8, 2021 – Sichenzia Ross Ference LLP announced today that it represented BriaCell Therapeutics Corp. (NASDAQ: BCTX), a clinical-stage biotechnology company specializing in targeted immunotherapies for advanced breast cancer, in a private placement offering. The offering consisted of (i) 4,370,343 common shares at a purchase price of US$5.26, (ii) 800,000 pre-funded common share purchase warrants at a purchase price of US$5.25 (exercisable at any time after the date of issuance at an exercise price of US$0.01 per common share) and (iii) 5,170,343 warrants to purchase up to 5,170,343 common shares. The gross proceeds were approximately $27.2 million.

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Sichenzia Ross Ference LLP Represents A.G.P./ Alliance Global Partners as Placement Agent in $20 Million Registered Direct Offering of ENGlobal Corporation

ENGlobal

Press Release – New York, NY – June 9, 2021 – Sichenzia Ross Ference LLP announced today that it represented A.G.P./Alliance Global Partners as sole placement agent in a registered direct offering of 7,142,859 shares of common stock of ENGlobal Corporation (NASDAQ:ENG), a leading provider of complete project solutions for renewable and traditional energy. The offering price was $ 2.80 per share for gross proceeds of $20 million.

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Sichenzia Ross Ference LLP Represents KULR Technology Group, Inc. in $6.5 Million Registered Direct Offering 

kulr logo

Press Release – New York, NY – May 27, 2021 – Sichenzia Ross Ference LLP announced today that it represented KULR Technology Group, Inc. (OTCQB: KULR) (Company), in a registered direct offering with a single institutional investor that purchased 650 shares of Preferred Stock that are convertible into shares of the Company’s common stock at a fixed price of $2.05 per share, Warrants to purchase up to 2,600,000 shares of common stock at an exercise price of $2.50 per share, and 1,300,000 shares of common stock as a commitment fee. The gross proceeds for the offering were $6.5 million.

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Sichenzia Ross Ference LLP Represents Boustead Securities, LLC as Underwriter to Jiuzi Holdings Inc. $26 Million U.S. Initial Public Offering

Jiuzi Holdings Inc. logo

Press Release – New York, NY – May 24, 2021 – Sichenzia Ross Ference LLP congratulates Jiuzi Holdings Inc. (the “Company”) (NASDAQ: JZXN), a new energy vehicles franchisor and retailer under the brand name “Jiuzi” in China, on the final closing of its initial public offering on May 20, 2021. The Company raised $26 million in gross proceeds, before deducting underwriting discounts, commissions and other offering expenses, by issuing 5,200,000 ordinary shares at a public offering price of $5.00 per share. The ordinary shares commenced trading on the Nasdaq Capital Market on May 18, 2021 under the ticker symbol “JZXN.”

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Sichenzia Ross Ference LLP Represents Document Security Systems, Inc. in the Sale of DSS Digital, Inc.

document security systems logo

Press Release – New York, NY – May 21, 2021 – Sichenzia Ross Ference LLP today announced that it represented Document Security System, Inc. (NYSE: DSS), a  multinational company operating businesses in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, in a sale with Proof Authentication Corporation (Proof). DSS and Proof signed a purchase agreement pursuant to which Proof acquired 100% of the outstanding shares of DSS Digital, Inc., a wholly-owned subsidiary of the Company and a leader in innovative anti-counterfeit, authentication, and brand protection solutions. 

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Sichenzia Ross Ference LLP Represents A.G.P./ Alliance Global Partners as Placement Agent in $12M Private Placement of ShiftPixy, Inc.

shiftpixy logo

Press Release – New York, NY – May 18, 2021 – Sichenzia Ross Ference LLP announced today that it represented A.G.P./Alliance Global Partners as sole placement agent in a private placement of ShiftPixy, Inc., with a large institutional investor.  The offering consisted of (i) 2,320,000 shares of its common stock together with warrants to purchase up to 2,320,000 shares of common stock, and (ii) 2,628,453 pre-funded warrants with each pre-funded warrant exercisable for one share of common stock, together with common warrants to purchase up to 2,628,453 shares of common stock. Each share of common stock and accompanying common warrant were sold together at a combined offering price of $2.425, and each pre-funded warrant and accompanying common warrant were sold together at a combined offering price of $2.4249. The gross proceeds of the offering were approximately $12 million.

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Sichenzia Ross Ference LLP Represents Alset EHome International Inc. in a $32.0 Million Public Offering of Units

Alset EHome International Inc.

Press Release – New York, NY – May 13, 2021 – Sichenzia Ross Ference LLP today announced that it represented Alset EHome International Inc. (NASDAQ: AEI), a diversified holding company principally engaged through its subsidiaries in property development, digital transformation technology and biohealth activities, in a public offering. The offering consisted of 4,700,637 Units (the “Common Units”), priced to the public at $5.07 per Common Unit, with each Common Unit consisting of (a) one share of common stock, par value $0.001 per share (the “Common Stock”), (b) one Series A warrant to purchase one share of Common Stock with an initial exercise price of $5.07 per whole share and (c) one Series B warrant to purchase one-half of a share of Common Stock with an initial exercise price of $6.59 per whole share. The gross proceeds were approximately $32.0 million. 

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Sichenzia Ross Ference LLP Represents High Tide Inc. in the $20.64 million acquisition of Fab Nutrition, LLC

hightide inc logo

Press Release – New York, NY – May 10, 2021 – Sichenzia Ross Ference LLP announced today that its mergers and acquisitions team has represented High Tide Inc. (OTCQB:HITIF) in its acquisition of Fab Nutrition, LLC, (FABCBD), one of the leading online retailers of hemp-derived CBD products.

High Tide has entered into a definitive agreement pursuant to which they have acquired 80% of FABCBD for US$20.64 Million and has been granted a three-year option to acquire the remaining 20% of FABCBD at any time. The consideration for the merger was comprised of: (i) 12,469,135 common shares of High Tide valued at US$8.08 Million on the basis of a deemed price per High Tide Share of $0.648, being equal to the volume weighted average price per High Tide Share on the TSXV for the 10 consecutive trading days preceding the closing of the Transaction; and (ii) US$12.56 Million in cash.  

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Sichenzia Ross Ference LLP Represents Aegis Capital in $48.3 Million Underwritten Public Offering of Farmmi, Inc. 

Farmmi

Press Release – New York, NY – May 3, 2021 – Sichenzia Ross Ference LLP announced today that it represented Aegis Capital Corp. as sole book runner in the underwritten public offering of 140,000,000 ordinary shares, and 21,000,000 additional shares from the exercise of the underwriter’s option to purchase such shares to cover over-allotments, of Farmmi, Inc. (NASDAQ: FAMI), a leading agricultural products supplier, processor and retailer of Shiitake mushrooms and other edible fungi. The offering was priced at $0.30 per share and the gross proceeds from the offering were $48.3 million.

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Sichenzia Ross Ference LLP Wins Appeal Before the Second Circuit in a Lawsuit Brought By Investors in Connection with a Private Placement

On April 30, 2021, Sichenzia Ross Ference LLP (“SRF”), on behalf of its clients, CodeSmart Holdings, Inc. (“CodeSmart”) and Sharon Franey, won an appeal brought by certain investors in CodeSmart (together, the “Investors”) before the United States Court of Appeals for the Second Circuit, which affirmed a lower Court’s dismissal of the Investors’ lawsuit.  The Second Circuit’s decision represents a major victory for SRF and its clients after extensive motion practice in a case that has been pending since 2014.

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Sichenzia Ross Ference LLP Represents American Battery Metals Corporation in a $15.0 Million Registered Direct Offering

american battery metals corporation logo

Press Release – New York, New York – April 29, 2021 – Sichenzia Ross Ference LLP announced today that it represented American Battery Metals Corporation (OTCQB: ABML), an American-owned lithium-ion battery recycling technology and advanced extraction company with extensive mineral resources in Nevada, in a registered direct offering of common stock at a purchase price of $1.65 per share with a single institutional investor.

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Document Security Systems, Inc. Completes a $30 Million Investment in Sharing Services Global Corporation 

document security systems logo

Press Release – New York, NY – April 22, 2021 – Document Security Systems, Inc. (NYSE American: DSS), a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, finalized an investment in Sharing Services Global Corporation (OTCQB: SHRG) (“Sharing Services”), through a $30 million convertible promissory note. SHRG is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products, and technologies in the direct selling industry. 

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Sichenzia Ross Ference LLP Represents Amplitech Group, Inc. in $23.0 Million Registered Direct Offering   

amplitechgroup logo

Press Release – New York, New York – April 16, 2021 – Sichenzia Ross Ference LLP announced today that it represented Amplitech Group, Inc. (NASDAQ: AMPG), a designer, developer, and manufacturer of custom and standard state-of-the-art RF components for Commercial, SATCOM, Space, Defense, and Military markets, in a registered direct offering of 2,715,000 shares of common stock priced at-the-market under Nasdaq rules. Additionally, the Company issued to the investors warrants to purchase an aggregate of 1,900,500 shares of common stock at an exercise price of $8.48 per share with a five-year term in a concurrent private placement. The combined purchase price for one share of common stock with 70% warrant coverage was $8.48. The gross proceeds from the offering were $23.0 million. 

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PARTNER ANDREW M. J. BERNSTEIN TO PRESENT UPCOMING VIRTUAL CLEs FOR NYSBA

Andrew M. J. Bernstein, Partner and leader of Sichenzia Ross Ference LLP’s White-Collar Defense and Investigations practice, presented on Monday April 12, 2021, “Preparing Your Client to Testify before a Grand Jury” the first of three virtual CLEs for the New York State Bar Association (NYSBA).

The next CLE “Making an Initial Appearance in a NY Criminal Case: Remote and In-Person” will take place on Monday April 19, 2021 at 12:00 PM. This course will provide an overview of what to expect when representing a criminal defendant at a remote or in-person initial presentment or arraignment during COVID-19.

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The final CLE “Grand Jury Practice for Criminal Defense Attorneys in New York State” will take place on Monday April 26, 2021 at 12:00 PM. This course will cover the law governing grand juries, grand jury presentations by the prosecutor, and the intricacies and responsibilities of criminal defense attorneys representing defendants who will be or are considering appearing before a grand jury in New York State.

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Sichenzia Ross Ference LLP Represents Biosolar, Inc. in $5.0 Million Registered Direct Offering

biosolar logo

Press Release – New York, New York – April 7, 2021 – Sichenzia Ross Ference LLP announced today that it represented Biosolar, Inc. (OTC: BSRC), a developer of energy technologies, in a registered direct offering with a single institutional investor to purchase 125,000,000 shares of its common stock (or common stock equivalents in lieu thereof)  and warrants to purchase an aggregate of up to 125,000,000 shares of common stock. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock is $0.04. The warrants have an exercise price of $0.04 per share, are immediately exercisable and will expire five years from the issuance date. The gross proceeds from the offering were $5.0 million.

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New York State’s Marijuana Regulation and Taxation Act

On March 30, 2021, the New York State Assembly and State Senate approved the Marijuana Regulation and Taxation Act (MRTA) legalizing, taxing, and regulating recreational marijuana in New York State.  The following day, the Governor signed MRTA into law, marking the end of the battle between lawmakers over recreational cannabis in New York, and setting the stage for the emergence of a multi-billion dollar industry. MRTA reforms New York’s criminal laws pertaining to cannabis and directs the reinvestment of substantial portions of tax revenues[1] to communities disproportionally affected by previous drug laws, and also sets forth specific procedures and regulations concerning the impending licensure of persons and organizations to cultivate, process, distribute, and sell cannabis for recreational use by persons aged twenty-one (21) and older.

The Office of Cannabis Management (OCM) & Cannabis Control Board:

MRTA establishes the Office of Cannabis Management, an independent entity within the Division of Alcoholic Beverage Control, comprised and governed by a five-member Cannabis Control Board. The Cannabis Control Board shall have the authority to prescribe forms of applications, licenses and permits, as well as the discretion to make the preliminary determinations on the issuance of more than ten (10) different types of cannabis licenses.

Recreational Cannabis Market Structure & Types of Licenses:

MRTA establishes a tiered market structure for recreational cannabis, modeled after the state’s alcohol industry. License categories for adult-use include cultivation, processing, distribution, retail dispensaries, registered organizations certified for medical use, consumption sites, and delivery. There will also be a Cooperative License category that will authorize groups of individuals to cultivate and process cannabis products; a Nursery License to allow for immature plants to be grown and sold to other licensees; and a Microbusiness License to allow the holder to cultivate, produce, and retail their own cannabis products in limited size quantities.

See the below chart[2] highlighting certain features of each category of adult-use recreational licenses classified by MRTA.

ADULT-USE LICENSE TYPE: AUTHORIZES: FEATURES/RESTRICTIONS:
Cultivator License Acquisition, possession, distribution, cultivation, and sale of cannabis to licensed processors May apply for and obtain ONE processor’s license and ONE distributor’s license solely for the distribution of their own Products.

Cannot hold a retail dispensary license.

Registered Organization Adult-Use Cultivator Processor Distributor Retail Dispensary License Certified for medical use and includes the same authorizations and conditions as adult-use cultivator, adult-use processor, adult-use distributor and adult-use retail dispensary licenses Location of dispensaries shall be limited to only three of the organizations medical dispensaries’ premises and facilities.

May only distribute its own products

May not also hold another retail dispensary license.

Registered Organization Adult-Use  Cultivator,  Processor  and

Distributor License

Certified for medical use and includes the same authorizations and conditions as an adult-use cultivator, processor, and distributor licenses. Does not qualify such organization for any other adult-use license and may only authorize the distribution  of  the licensee’s own products.
Processor License Acquisition, possession, processing and sale from cultivators to processors or distributors License may authorize processing activities at multiple locations if authorized by Board.
Cooperative License Acquisition, possession, cultivation, processing, distribution, and sale to distributors, on-site consumption sites, registered organization and/or retail dispensaries, but NOT directly to consumers. Must be comprised of residents of state of New York as LLC of LLP. LLC and LLP must adhere to various other organizational structure requirements.
Distributor License Acquisition, possession, distribution and sale from cultivator, processor, cooperative, microbusiness, or registered organizations to retail dispensaries and onsite consumption sites Cannot have direct or indirect economic interest in microbusiness, retail dispensary, on-site consumption, or registered organization.  In the event of direct or indirect interest in cultivator or processor licensee, can only distribute products cultivated or processed by such licensee.
Retail Dispensary License Acquisition, possession, sale and delivery license shall authorize the acquisition, possession, sale, and delivery from licensed premises to cannabis consumers. No person can have a direct or indirect interest in more than three retail dispensary licenses, and cannot hold a cultivation, processor, microbusiness, cooperative, or distributor license, or be registered as a registered organization. Must be owner of premises in which retail license is applied for or demonstrate possession of premises within thirty days of final approval through lease, management agreement, or other agreement for duration of license period.
Microbusiness License Limited cultivation, processing, distribution, delivery, and dispensing of their own cannabis and cannabis products May not hold a direct or indirect interest in any other license. Size scope, and eligibility criteria shall be determined in regulation by the board.
Delivery License Delivery of cannabis and cannabis products independent of another cannabis license Limited to no more than 25 individuals or equivalent thereof in providing full-time paid delivery services to consumers.
Nursery license Production, sale, and distribution of clones, immature plants, seeds, and other agricultural products used specifically for the planting, propagation, and cultivation of cannabis. May apply for one nursery license to sell directly to other cultivators, cooperatives, microbusinesses, or registered organizations.
On-Site Consumption License Areas licensed solely for the purpose of recreational cannabis use. Cannot hold interest in more than three on-site consumption licenses. Must be owner of premises in which retail license is applied for or demonstrate possession of premises through lease for duration of license period unless leased from gov’t agency. Cannot hold any other cannabis licenses.

Application Process:

The Cannabis Control Board is granted the discretion to prescribe the form of applications, licenses, and fees. It may also limit the number of  registrations,  licenses and permits of each class to be issued within the state or any political subdivision  thereof,  in  a  manner  that  prioritizes social  and  economic  equity  applicants with the goal of awarding fifty percent to such applicants.  It also aims to consider small business opportunities and concerns, avoid market dominance in sectors of the industry, and reflect the demographics of the state.  At this time, the form of the application and associated fees for licensing have not yet been promulgated, but we expect the application decision-making criteria to include a wide range factors unique to each class of license.

If you have any questions about MRTA and navigating this emerging landscape of recreational cannabis in New York, please do not hesitate to contact Marc J. Ross, Esq. at 212-398-5541, mross@srf.law, or Michael Cuttitta, Esq. at 212-981-6770, mcuttitta@srf.law.[3]

[1] MRTA imposes a 9% state tax and 4% local tax for retail sales of cannabis.  MRTA imposes an additional requirement that adult-use distributors remit taxes based on the per milligram amount of THC (0.5 cents for cannabis flower, 0.8 cents for cannabis concentrate, 3.0 cents for edibles).

[2] This chart is intended to highlight the main features of each category of license; it is not, nor is it intended to be, all-inclusive of every regulation and authorization pertaining to each category of license.

[3] This MRTA Alert is for general information purposes and is not intended to advertise our services, solicit clients or represent our legal advice.

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seachange logo

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ipsipay inc.

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